Greece’s Forthnet ended the first quarter with 507,331 pay-TV subscribers, a 5.2% increase on the same period last year.
Meanwhile, its triple play/bundled services subscriber total rose by 14.1% to 369,081.
Although the latter figure was up by 5.8 percentage points, the number of new households opting for triple play/bundled services in Q1 was, at 5,532, 85.5% lower than in the same quarter in 2014.
Forthnet’s total revenues in Q1 amounted to €91,997,000, down 5.6% on a year earlier, with its pay-TV business contributing €5,137,000 to the total, or 1.4% more than in Q1 2014. Adjusted EBITDA was €14,555,000, down 8.9% year-on-year.
Forthnet says that it expects the rollout of triple pay services to be the main growth driver for the pay-TV market in Greece in the future.
Commenting on the results, Panos Papadopoulos, CEO Forthnet, said: “Despite the macroeconomic conditions, our subscriber base continued to increase during Q1 2015. Customer satisfaction and loyalty levels remain high, shielding us against the domestic sectoral downward trends. Due to the macroeconomic environment, we remain conservative and we focus on improving our overall cost structure.”
